2023 Cost of Living in Sydney – A Personal Experience
If you are considering a move to Australia, particularly to Sydney, then this blog is a must-read for you. According to the Daily Mail Australia (December 2022 issue), Sydney has been recognized as the tenth most expensive city in the world to reside in.
I will outline the major expenses that you need to consider before negotiating a salary offer or planning your monthly budget prior to your arrival in Sydney.
It’s important to note that the expenses may vary depending on whether you have Permanent Residency (PR) or if you are coming on a Temporary Residence (TR), such as a work visa.This budget is for a family of three – two adults and one child – living in the suburbs of Sydney.
You may adjust your budget according to your family. It is based on my personal experience, providing you with first-hand information that will prove invaluable.
1. Accommodation
The most expensive item in your budget is accommodation. To my surprise, rents are charged on a weekly basis, but they are paid bi-weekly. For example, the weekly rent for a one-bedroom apartment is around 490 AUD, which means 980 AUD bi-weekly and 1,960 AUD monthly.
2. Groceries
The weekly grocery expense is around 250 AUD (including dry and wet groceries). However, it can go up to 1500 AUD (monthly) if you enjoy food and do not control your spending.
3. School Fee
If you are on a work visa, then consider it in your budget – for PR holders, education is free.Since we are on a work visa, we have to pay the child’s school fee. For primary school, the weekly fee is 140 AUD (560 AUD monthly).
4. Health Insurance
If you are on a work visa, then consider it in your budget – for PR holders, health care is free.Health insurance is a must to cover any unforeseen medical emergencies and regular care. There are multiple health insurances available. For a family of two adults and one child, the monthly health insurance will be around 375 AUD.
5. Utilities
- Electricity: Depending on the weather and usage, the cost will vary. As an estimate, the monthly electricity bill is 120 AUD.
- Gas: Monthly bill – 75 AUD.
- Internet: Monthly bill – 80 AUD.
- Mobile: Monthly bill – 45 AUD per person.
6. Transportation
Sydney has a good mass transit system the expense will be depending on your distance. If using an Opal card, the maximum fare per day is 16.80 AUD (return trip).
7. Dining Out
Dining out is not cheap in Sydney. A standard meal at KFC costs 15 AUD, and dining in the medium range – fine dining will cost more than 30 AUD per person.
8. Miscellaneous Expenses
Miscellaneous expenses vary based on individual needs and requirements.
In next week’s blog, I will share more insightful information that can help facilitate a smooth transition from your home country to Australia.
Everyone has different scenarios and questions that probably cannot be answered by reading the above high-level budget guidelines.
You are welcome to leave a comment below, and I will try to answer your queries.
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